Key Quantitative Figures
The QIP involved the allocation of 6,289,308 equity shares of face value ₹10 each. The allocation was made at an Issue Price of ₹795.00 per equity share, which includes a premium of ₹785.00 per share. This price represents a discount of ₹40.86 per share (4.89%) to the calculated floor price of ₹835.86 per share. The total issue size amounts to approximately ₹500 crore (₹5,000,000,000).
Dates of Action
The Fund Raising Committee meeting was held on July 10, 2026. The committee approved the closure of the Issue on the same date (July 10, 2026), noting that the Issue had originally opened on July 07, 2026. The meeting commenced at 08:30 P.M. and concluded at 09:00 P.M. The placement document is dated July 10, 2026 and was filed with the exchanges on the same day.
Committee Resolutions
The Fund Raising Committee passed several resolutions at its July 10, 2026 meeting:
- Approved the closure of the Issue upon receipt of application forms and funds in the escrow account from eligible qualified institutional buyers
- Determined and approved the allocation of 6,289,308 Equity Shares at ₹795.00 per share
- Approved and adopted the Placement Document dated July 10, 2026
- Approved and finalized the confirmation of allocation note to be sent to eligible qualified institutional buyers
Additional Information
The placement document dated July 10, 2026 has been made available on the company's website at https://ideaforgetech.com/. The document was signed by Nilesh Ranjan Jaywant, Company Secretary and Compliance Officer (Membership no: A26554).